XRP aficionados are delighted as market analyst EGRAG predicted an 888% increase in the value of the cryptocurrency. This optimism is not just wishful thinking; it is based on trends seen on XRP’s monthly chart that reflect the cryptocurrency’s rapid success in 2017. As XRP struggles to regain previous highs, many traders are wondering if this is the start of a another bull run.
EGRAG chart analysis shows that XRP has almost touched the ascending red support line four times. The trend is similar to the price movements this currency experienced during the 2017 bull run, as XRP rose from a value of $0.003 to $3.31 in January 2018. The repetition of this trend suggests that XRP could soon embark on a similar path.
#XRP 888.88% – The secret behind the 8
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See the table below
– EGRAG CRYPTO (@egragcrypto) September 27, 2024
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– it presents a crucial model showing 
At the time, the Red Ascending Helpline had been contacted 4 times before triggering the legendary 2017. 
… Breaking through key resistance levels
But what would cause XRP to reach such an explosion? According to EGRAG, the first major resistance lies at the all-time high of $3.31. He believes that when this price is recouped, it will lay the foundation for a rally.
Interestingly, EGRAG suggests that just 20% of the gains seen in 2017 could pave the way for further upside, matching the important Fibonacci extension level of $31.
If it reaches $31, it will reflect current market sentiment and may even attract more investors. Statistical data shows that in previous bull runs, price milestones have greatly influenced market psychology. In fact, the rise from $0.003 to $3.31 was not only influenced by the numbers, but also because people viewed XRP as something that would revolutionize the entire crypto space.
XRP Price Prediction
However, recent estimates provided by CoinCodex add more optimism to this view. The cryptocurrency price prediction site predicted a possible increase in XRP price by 19.78% by the end of October 28, 2024, and it could peak at $0.71033.
Indeed, market sentiment is considered bullish, with the Fear & Greed Index spotted at 64, representing investor greed. A Greed rating sometimes causes prices to rise again, making this a very attractive opportunity for potential buyers to take action.
Throughout the month, XRP recorded 16 out of 30 days in the green, translating to a positive rate of 53%. Given that price volatility is low at 3.73%, the above statistics paint a rather rosy picture for traders eager to make profits in the event of a breakout. Optimism is palpable and traders are focusing their hawkish gaze on critical resistance points that will likely pose significant obstacles going forward.
Featured image from Fortune, chart from TradingView
